Trade data for January show that export values continued to recover last month. Looking ahead, export growth should remain positive, but the government’s long-term target still looks out of reach. Data released yesterday evening show that the monthly trade deficit narrowed from $10.3bn in December to $9.8bn in January. This is only half what it was at the peak in dollar terms a few years ago, and suggests that the current account deficit should remain at a sustainable level.
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